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Coach: I'm thinking about placing an October Iron Condor 7 weeks to October expiration. What I'm thinking is that it might not be a bad idea to place 5 pt. spreads instead of the usual 15 point spreads. The credits look to be fairly decent as of Friday's close (Hurricane Katrina...

I'm still trying to get a fill on the following bear call spread: SPX Sept 1255/1270 for a $0.40 credit As I write this, the b/a spread is 0.25/0.7 with the SPX down -4.43 at 1207.94. It seems like I should get filled, but I'm getting a little frustrated. Coach: I'm feeling tempted...

Thanks for the clear explanation. I was thinking that you meant your entire portfolio, so I'm glad you cleared up my misconception.

Coach: When you say "I will exit if I can grab at least 60 - 70% of my premium.", is that for the overall IC premium or do you apply these percentages individually against the premium on each side. My reservation about committing more margin is that the SPX price might be near enough to...

Well, I'm trying to get a 1255/1270 bear call spread filled at $0.40. No luck so far [I might have to go down to a measily $0.35 but at least I got $0.50 on the other half :)]. Coach, I wanted to ask you about commitment of margin. My general strategy and I thought you advocated a similar...

Coach, I have a couple of open put spreads that I want to turn into ICs. Would you mind sharing what strike prices you're currently trying to get filled on your bear call spreads. I too feel that if I don't place those trades today, the time decay over this weekend will be large and make it...

I guess my post wasn't clear. I DID get the fill at $0.50. The 1115 was bought for $1.25 and the 1130 was sold for $1.75. As soon as I realized that I had gotten a very good fill, I placed the same order again. That order is currently open, and I'm trying to get the same fill (the...

Actually, at the time I felt that $0.50 was what I should get, but I've tried to replicate the trade since and the best seems to be $0.35 to $0.40 for a similar drop in the SPX. I've complained many times that OX doesn't seem to be able to get me good fills, but I must say I got lucky this time.

With the SPX down today, I executed the following bull put credit spread: SPX Sept 1115/1130 spread for a credit of $0.50 With about 3 weeks to expiration and the long strike about 75 points OTM, it seems like this is a reasonably safe trade with a reasonable credit. Would you agree, Coach?

Coach: Here's something I struggle with. As of the close of Monday, August 22, 2005 here are some bear call credit spreads that I'm looking at. SPX is at 1221.73 SEP 1270/1285 at $0.30 credit SEP 1265/1280 at $0.65 credit SEP 1260/1275 at $1.10 credit SEP 1255/1270 at $1.25 credit...

Coach: I was filled on the following trade today: SPX Sept 1285/1300 bear call spread at $0.80 I would like to have taken the strikes out further but the next strike is 1325. A 1300/1325 bear call does not fit in (from a maintenance point of view) with my existing bull put spread which...